The Risk Universe is a digital information resource that seeks to shed some much needed illumination onto the world of operational risk management.

Untangling the supply web - Managing third-party and supply chain risk
All organisations, no matter how small and uncomplicated, are impacted by third party/supply-chain, or “Nth-party” risk as it is also known. In this report, we take a look at some recent examples of risk events which have impacted the financial services supply chain in particular and put forward some workable solutions for minimising the impact of this risk.
Click here to download further details


Latest News

Top advisor at J.P. Morgan files injunction against her own firm's private bank

In what could be a sign of internal dysfunction between J.P. Morgan Advisors and the firm’s Private Bank, a high-flier San Francisco financial advisor wooed to the firm a year ago filed a complaint in court yesterday asking for a temporary restraining order and preliminary injunction against the Private Bank pending arbitration, court documents said.

UBS, Barclays, RBS, HSBC, Credit Suisse fined €344m for FX cartel participation

The European Commission has completed its cartel investigation into the Forex spot trading market by imposing fines on five banks. The Commission has adopted today a decision imposing a total fine of €261 million on the four banks that decided to settle the case, namely UBS, Barclays, RBS and HSBC. The Commission has also fined Credit Suisse €83 million under the ordinary procedure.

Bank of Ireland fined €24.5 million over IT resiliency issues

Ireland's central bank has fined Bank of Ireland €24.5 million over IT deficiencies that the lender took over a decade to fix.

ANZ faces credit card class action

Lawyers say ANZ’s practice of charging customers the full amount of interest even on partial repayments was always unconscionable and unfair, justifying the launch of a class action against the big four banks to seek compensation.

Clearview AI facing $22.6m fine over U.K. privacy violations

The U.K.’s data regulator has warned Clearview AI it could face a £17 million (U.S. $22.6 million) fine over its use of people’s data to power its facial recognition software.

Irish finance officials raised ‘reputational’ concerns over cum-ex fraud

Department of Finance officials raised concerns that evidence of Irish involvement in a multibillion euro fraudulent financial trading scheme would pose a “reputational” issue for Ireland, internal emails show.

Nedbank, HSBC and Bank of America fight back against Comp Commission's case

Banks are fighting the Competition Commission's attempt to add them to its long-standing currency manipulation case.

ASIC launches multiple legal actions against Westpac

ASIC has commenced six civil penalty proceedings against Westpac in the Federal Court. The proceedings, each the result of an individual ASIC investigation, allege widespread compliance failures across multiple Westpac businesses. The alleged conduct occurred over many years and affected many thousands of consumers.

Fired UBS FA wins $650k defamation award

An ex-UBS financial advisor in Florida has won an arbitration claim against his former colleagues for defamation after his firing, which he alleged was due to whistleblower activity.

Japan issues 2nd biz improvement order over glitches to Mizuho

Japan's Financial Services Agency on Friday issued its second business improvement order over a series of system failures to Mizuho Bank and its parent, Mizuho Financial Group Inc.

Nordea retracts research note citing conspiracy theories and Nazi references

Nordea Bank Abp started an internal probe into a conspiracy theory-fueled research note where analysts referred to governments battling Covid-19 as “lockdownistas” and questioned the efficacy of the vaccines.

MFDA fines Quadrus six-figure sum for non-compliant incentive practices

Quadrus Investment Services has agreed to pay the Mutual Fund Dealers Association of Canada (MFDA) a $600,000 fine after the self-regulatory organization found it fell short in its duty to ensure compliance with securities legislation, including rules related to incentive and sales practices.

 
  • Issue #66
  • Issue #65
  • Issue #64
  • Issue #63
  • Issue #62
  • Issue #61
  • Issue #60
  • Issue #59
  • Issue #58
  • Issue #57
  • Issue #56
  • Issue #55
  • Issue #54
  • Issue #53
  • Issue #52
  • Issue #51
  • Issue #50
  • Issue #49
  • Issue #48
  • Issue #47
  • Issue #46
  • Issue #45
  • Issue #44
  • Issue #43
  • Issue #42
  • Issue #41
  • Issue #40
  • Issue #39
  • Issue #38
  • Issue #37
  • Issue #36
  • Issue #35
  • Issue #34
  • Issue #33
  • Issue #32
  • Issue #31
  • Issue #30
  • Issue #29
  • Issue #28
  • Issue #27
  • Issue #26
  • Issue #25
  • Issue #24
  • Issue #23
  • Issue #22
  • Issue #21
  • Issue #20
  • Issue #19
  • Issue #18
  • Issue #17
  • Issue #16
  • Issue #15
  • Issue #14
  • Issue #13
  • Issue #12
  • Issue #11
  • Issue #10
  • Issue #9
  • Issue #8
  • Issue #7
  • Issue #6
  • Issue #5
  • Issue #4
  • Issue #3
  • Issue #2
  • Issue #1